24 resultados para Lead Firms
Resumo:
This paper investigates the determinants of capital structure for a sample of 20,713 unlisted firms from 11 eastern European countries over the period 1994-2004. We employ usual firm-specific financial variables as well as country-specific variables that describe the degrees of governance structure and financial development of each country. Using regression analysis, our results indicate that firm ownership concentration and country governance structure are insignificant explanatory variables to the degree of leverage of the firms in our sample. On the other hand, indicators of country financial development are robust determinants of capital structure. However, the marginal explanatory power of country-specific variables is small. We conclude that firm-specific characteristics are decisive in capital structure.
Resumo:
Purpose – The purpose of this paper is to examine the effect of the psychological bond on behavioral loyalty (word-of-mouth, continuance and non-audit services) to audit firms providing services to companies listed on the Polish Stock Exchange. Design/methodology/approach – A model is proposed and tested using structural equation modeling with LISREL. Data were collected from top executives of companies listed on the Warsaw Stock Exchange. Findings – The psychological bond has a positive effect on word-of-mouth, continuance and non-audit services. Research limitations/implications – The current research is limited to the investigation of the psychological bond as an antecedent of behavioral loyalty in Poland. Future research should identify and assess other antecedents and replicate these across different countries. A longitudinal survey across different points in time might reveal more useful information about auditor-client relationships. Practical implications – Auditors need to consider ways in which they can develop the psychological bond with their clients. This bond is the basis for the client believing the audit firm is superior to others, which has been found to lead to behavioral loyalty in this study. In particular, management of the auditor brand and reputation, personal experience of the audit firm and alumni relations are discussed as ways of enhancing the psychological bond among client executives. Originality/value – This study is the first to examine the impact of the psychological bond on behavioral loyalty in auditor-client relationships.
Resumo:
The paper reports on the investigation of the rheological behaviour new lead-free solder pastes formulations for use in flip-chip assembly applications. The study is made up of three parts; namely the evaluation of the effect of plate geometry, the effect of temperature and processing environment and the effect of torsional frequencies on the rheological measurements. Different plate geometries and rheological tests were used to evaluate new formulations in terms of wall slip characteristics, linear viscoelastic region and shear thinning behaviour. A technique which combines the use of the creep-recovery and dynamic frequency sweep tests was used to further characterise the paste structure, rheological behaviour and the processing performance of the new paste formulations. The technique demonstrated in this study has wide utility for R & D personnel involved in new paste formulation, for implementing quality control procedures used in paste manufacture and packaging and for qualifying new flip-chip assembly lines
Resumo:
Stencil printing of solder pastes is a critical stage in the SMT assembly process as a high proportion of the solder-related defects can be attributed to this stage. As the trend towards product miniaturization continues, there is a greater need for better understanding of the rheological behaviour and printing performance of new paste formulations. This fundamental understanding is crucial for achieving the repeatable solder paste deposits from board-to-board and pad-to-pad required for more reliable solder interconnections. The paper concerns a study on the effect of ageing on the rheological characteristics and printing performance of new lead-free solder pastes formulations used for flip-chip assembly applications. The objective is to correlate the rheological characteristics of aged paste samples to their printing performance. The methodology developed can be used for bench-marking new lead-free paste formulations in terms of shelf life, the potential deterioration in rheological characteristics and their printing performance.
Resumo:
Purpose – The purpose of this paper is to investigate the rheological behaviour of three different lead-free solder pastes used for surface mount applications in the electronic industry.Design/methodology/approach – This study concerns the rheological measurements of solder paste samples and is made up of three parts. The first part deals with the measurement of rhelogical properties with three different measuring geometries, the second part looks into the effect of frequencies on oscillatory stress sweep measurements and the final part reports on the characterisation and comparison of three different types of Pb-free solder pastes. Findings – Among the three geometries, the serrated parallel plate was found effective in minimising the wall-slip effect. From the oscillatory stresssweep data with different frequencies; it was observed that the linear visco-elastic region is independent of frequency for all the solder paste samples. To understand the shear thinning behaviour of solder paste, the well known Cross and Carreau models were fitted to the viscosity data. Moreover,creep-recovery and dynamic frequency-sweep tests were also carried out without destroying the sample’s structure and have yielded useful information on the pastes behaviour.Research limitations/implications – More extensive research is needed to fully characterise the wall-slip behaviour during the rheological measurements of solder pastes. Practical implications – The rheological test results presented in this paper will be of important value for research and development, quality control and facilitation of the manufacturing of solder pastes and flux mediums. Originality/value – This paper shows how wall-slip effects can be effectively avoided during rheological measurements of solder pastes. The paper also outlines how different rheological test methods can be used to characterise solder paste behaviours
Resumo:
The market for solder paste materials in the electronic manufacturing and assembly sector is very large and consists of material and equipment suppliers and end users. These materials are used to bond electronic components (such as flip-chip, CSP and BGA) to printed circuit boards (PCB's) across a range of dimensions where the solder interconnects can be in the order of 0.05mm to 5mm in size. The non-Newtonian flow properties exhibited by solder pastes during its manufacture and printing/deposition phases have been of practical concern to surface mount engineers and researchers for many years. The printing of paste materials through very small-sized stencil apertures is known to lead to increased stencil clogging and incomplete transfer of paste to the substrate pads. At these very narrow aperture sizes the paste rheology and particle-wall interactions become crucial for consistent paste withdrawal. These non-Newtonian effects must be understood so that the new paste formulations can be optimised for consistent printing. The focus of the study reported in this paper is the characterisation of the rheological properties of solder pastes and flux mediums, and the evaluation of the effect of these properties on the pastes' printing performance at the flip-chip assembly application level. Solder pastes are known to exhibit a thixotropic behaviour, which is recognised by the decrease in apparent viscosity of paste material with time when subjected to a constant shear rate. The proper characterisation of this time-dependent theological behaviour of solder pastes is crucial for establishing the relationships between the pastes' structure and flow behaviour; and for correlating the physical parameters with paste printing performance. In this paper, we present a number of methods which have been developed for characterising the time-dependent and non-Newtonian rheological behaviour of solder pastes and flux mediums as a function of shear rates. We also present results of the study of the rheology of the solder pastes and flux mediums using the structural kinetic modelling approach, which postulates that the network structure of solder pastes breaks down irreversibly under shear, leading to time and shear dependent changes in the flow properties. Our results show that for the solder pastes used in the study, the rate and extent of thixotropy was generally found to increase with increasing shear rate. The technique demonstrated in this study has wide utility for R&D personnel involved in new paste formulation, for implementing quality control procedures used in solder paste manufacture and packaging; and for qualifying new flip-chip assembly lines
Effect of temperature on slumping behaviour of lead-free solder paste and its rheological simulation
Resumo:
Variation in temperature can have a significant impact on the rheological characterisation of solder pastes used in the electronic assembly of surface mount devices. This paper concerns the study of the effect of temperature on slumping characteristics of lead-free solder pastes. The identification of the slumping characteristics can help in the correlation of the pastes characteristics to its printing performance. Further issues, which aid in justifying the undertaking of such a study, include the temperature differences identified both at the squeegee during the print, and during reflow. Due to these temperature variations, it is imperative to understand how slump differs with a temperature gradient
Resumo:
This paper investigates the application of a non-destructive ultrasonic technique for characterising the rheological properties of solder paste through the use of through-mode microsecond ultrasonic pulses for evaluation of viscoelastic properties of lead-free solder paste containing different types of flux. Ultrasonic techniques offer a robust and reliable form of non-destructive testing of materials where access to the sample is restricted or when sample handling can interfere with the monitoring or analysis process due to externally incorporated changes to the material’s physical state or accidental contamination during the removal or testing process. Ultrasonic based techniques are increasingly used for quality control and production monitoring functions which requires evaluation of changes in material properties for a wide range of industrial applications such as cement paste quality, plastic/polymer extrusion process, dough and even sugar content in beverage drinks. In addition, ultrasound techniques are of great interest for their capability to take rapid measurements in systems which are optically opaque. The conventional industry approach for characterising the rheological properties of suspensions during processing/packaging stage is mainly through the use of viscometer and some through the use of rheometer. One of the potential limitations of viscometer and rheometer based measurements is that the collection and preparation of the solder paste samples can irreversibly alter the structure and flow behaviour of the sample. Hence the measurement may not represent the actual quality of the whole production batch. Secondly, rheological measurements and the interpretation of rheological data is a very technical and time consuming process, which requires professionally trained R&D personnel. The ultrasound technique being proposed provides simple, yet accurate and easy to use solution for the in-situ rheological characterisation of solder pastes which will benefit the materials suppliers (who formulate and produce solder pastes) and solder paste consumers (especially, contract electronics manufacturers). The results from the work show that the technique can be used by R&D personnel involved in paste formulation and manufacture to monitor the batch-to-batch quality and consistency.